Deputy Chief Minister Manish Sisodia has written a letter to Union Finance Minister Arun Jaitely for piloting the Goods and Services Tax (GST) negotiation successfully and leading the country to the biggest tax reform in recent years.
Sisodia through his letter to Jaitely has drawn attention towards the important omission of Real Estate sector from the ambit of GST.
“By keeping Real Estate out of GST, the fight against black money would be weakened,” Sisodia mentioned in his letter.
He also referred a recent article by the Central Government’s Chief Economic Advisor Arvind Subramanian on the issue.
“Subramanian has given details of possible losses by keeping Real Estate out of GST ambit,” said Sisodia.
Supporting points raised by Subramanian, the Delhi education minister has stated that land and property transactions can be made more transparent by including Real Estate in GST.